XRP Price Analysis: XRP Bullish Rally Has An Extension

  • XRP persists on its bullish rally and successfully placed above the significant hurdle of $0.44, CMP at $0.47 with an intraday gain of +11.89% 
  • The pair of XRP/BTC is trading at 0.00001113 BTC with an intraday jump of +10.92% 
Source: XRP/USD tradingview

XRP on the daily time frame is trading above its crucial mark of $0.44 and indicates an uptrend confirmed by the several indicators. XRP is trading in the Bollinger Band (BB) upper band, while is placed near the upper resistance zone. However, after testing the 100-DMA, a sharp rally on the upside is observed. Support on lower levels is placed at $0.39 and $0.32, while the higher side’s resistance is situated at $0.59 and $0.68. Presently XRP is placed above 20,50,100 and 200-Day Moving Averages (DMA), meanwhile volume is not much support for this movement.

Source:XRP/USD tradingview

XRP over the short-term time frame is trading on the bullish note, followed by the rising support line. The coin is presently trading above the major moving averages of 20,50,100 and 200-Day. However, support on the daily chart is placed at $0.47 and $0.44. The resistance on the higher side is placed at $0.54 and $0.56. Volume traded in the last 24-hour period increased by +8.73% standing at $11,412,138,514, likewise, total market capitalization stands at $23,901,905,641 with intraday gain of +15.45%.

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Relative Strength Index (Bullish) indicates a bullish momentum while trading at 60.93. However, it is currently heading towards an oversold zone after testing the overbought zone. 

Moving Average Convergence Divergence (Bullish) currently indicates a bullish trend on the daily chart as giving a positive crossover with the significance of Buyer’s line (green) over seller’s signal line (red).   

Support levels: $0.39 and $0.32 

Resistance levels: $0.59 and $0.68 

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Pratik Chadhokarhttp://www.thecoinrepublic.com
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.

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